Almadex Minerals (AMZ-V) July 7, '16 announces that it has today disposed of 20,000,000 common shares of Gold Mountain Mining (GUM-V) of 1700 - 700 W Pender St. Vancouver, B.C., by way of a private cash sale at a price of $0.10 per share, for gross proceeds of $2,000,000.
Prior to the disposition, Almadex owned and controlled 26,750,000 common shares of Gold Mountain representing approximately 38.8% of the issued common shares of Gold Mountain. The 20,000,000 common shares disposed of represent approximately 29.0% of Gold Mountain's issued common shares and Almadex retains ownership and control of 6,750,000 common shares, or approximately 9.8% of the issued common shares of Gold Mountain, which Almadex holds for investment purposes. Almadex may increase or decrease its investment in Gold Mountain based on market conditions or other relevant factors.
In accordance with the Early Warning System, a copy of this news release and the report will be filed with the applicable Canadian Securities Administrators and will be available on SEDAR at www.sedar.com. A copy of the report may also be obtained from Korm Trieu, CFO (Tel: 604-689-7644).
About Almadex
Almadex Minerals Limited is a British Columbia exploration company that holds a large mineral portfolio consisting of projects and NSR royalties in Canada, the U.S., and Mexico. This portfolio is the direct result of over 35 years of prospecting and deal-making by Almadex and, prior to its spinout, by Almaden Minerals Ltd.
On behalf of the Board of Directors of
Almadex Minerals Limited
Per : "Morgan Poliquin"
Morgan J. Poliquin, Ph.D., P.Eng.
President, CEO and Director
Almadex Minerals Limited
Almadex Minerals Limited
604.689.7644
Fax: 604.689.7645
info@almadexminerals.com
www.almadexminerals.com |
